Robinsons Retail income up 38.7% as sales improved

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By Inquirer.Net

Gokongwei-led retailer Robinsons Retail Holdings Inc. (RRHI) reported a 38.7-percent year-on-year growth in third quarter net income to P1.04 billion as sales improved alongside the recovery of the domestic economy despite the reimposition of tough lockdown protocols.

This brought RRHI’s nine-month net profit to P2.71 billion, rising by 13.3 percent year-on-year.

This accounted for 68 percent of about P4 billion in earnings that market consensus expects the multiformat retailer to deliver for the full year.

The third quarter profit also marked a sequential improvement from the P723.9-million bottom line recorded in the second quarter.

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